- Sales for FY10 Rs. 861.1 Cr, an increase of 17.8% over FY09.
- EBIDTA for FY10 Rs.109.0 Cr, an increase of 45% over FY09.
- PBT for FY10 Rs.85.6 Cr, an increase of 62% over FY09.
- Net Profit for FY10 Rs.50.0 Cr, an increase of 31% over FY09.
- Basic EPS Rs. 4.1 per share of Rs.5/-, an increase of 36% over FY09.
The Board of Directors recommended a final dividend of 15% amounting to Re. 0.75 per share. Along with interim dividend of 10% declared earlier, the total dividend for the year is 25% amounting to Rs.1.25 per share of Rs.5/- each.
Pennar Industries reported its highest ever annual sales of Rs. 861.10 Cr for FY10, a jump of 17.8% over FY09. Pennar improved its sales volumes from 97,000 tonnes to 133,473 tonnes representing an increase of 37% over the tonnage in the previous year.
The Company achieved a gross profit (EBIDTA) of Rs.109 crores, PBT of 85.60 crores, and Net Profit of Rs. 50.07 crores which reflected increases of 45%, 62% and 31% respectively over that of last year. The cash EPS for the year was Rs. 6.19 and the basic EPS was Rs. 4.10 per share of Rs.5/- each.
Pennar commenced production operations at its expanded Chennai plant for the manufacture of sub assemblies, side walls and other critical components required for rail coaches and wagons. Pennar has successfully commissioned a Heavy duty profiling line for manufacture of chassis members for wagon industry.
Pennar’s subsidiary that manufactures Pre Engineered Buildings, commenced production in Jan’10 recorded a sales of Rs. 34 crores by March end. It is noteworthy that the company made a net profit during the first three months of its sales. The company’s products have been well received in the market. Orders of Rs. 115 Crores have been procured as of date. Orders for Pre-Engineered Buildings have been procured from prestigious customers like Ultratech, L&T, JSW, Dr. Reddy’s, My Home Cements and Hindustan Construction Company.
About Pennar Industries
Pennar has a demonstrated continuous growth by registering a growth in profits on Quarter-on quarter basis for the last twenty two consecutive quarters.
At the core of the turnaround and the success of the company is its strategy to diversify its product range by adding value added products like Rail Wagon and coach profiles and chassis, engineering components and road safety systems. The company is focusing on specialty profiles, sub-assemblies and fabricated components for transportation and infrastructure companies. Pennar has recently set up a facility in Chennai to cater to Railways and automotive sectors.
Pennar has also launched a new subsidiary Pennar Engineered Building Systems (PEBSL) at a cost of Rs. 50 Crores. The 30,000 ton per annum capacity project, being set up in a 28 acre site at Sadasivpet in Medak district, about 70km from Hyderabad. PEBSL will be engaged in the design, manufacture, supply and erection of pre-engineered steel buildings and building components catering to the requirements of, among other things, industries, ware houses, commercial centers, multi-storied buildings, aircraft hangars and sports complexes.
Pennar currently has six plants located at Patancheru, Sadasivpet and Isnapur near Hyderabad, Chennai, Tarapur (Maharashtra) and Hosur (Tamil Nadu) with a total capacity of 220,000 TPA.
